- The total crypto market cap is facing a strong resistance near the $220.0B level.
- Bitcoin price is also trading below a crucial resistance area near the $8,500 level.
- EOS price failed to hold the $3.000 support and declined below $2.950.
- Binance Coin (BNB) is declining and it might test the $15.00 support area.
- BCH price struggled to clear the $235 resistance and it is currently trading towards the $220 support.
- Tron (TRX) price is down more than 5% and it broke the $0.0140 support area.
Bitcoin Cash Price Analysis
There was an upside correction in BCH price above the $225 and $230 levels against the US Dollar. However, the BCH/USD pair struggled to clear the $235 resistance level and recently started a fresh decline. It broke the $230 level and it is currently trading just below $225.
It seems like the price might test the $220 level. Any further losses could push the price towards the $205 support area in the near term. On the upside, the main resistance is near the $235 level.
Binance Coin (BNB), EOS, Tron (TRX) Price Analysis
EOS price rallied sharply earlier this week and broke the $3.000 resistance area. The price tested the $3.100 level and recently started a downside correction below the $3.000 level. It seems like the price may perhaps correct further lower and test the $2.850 support area.
Tron price surged more than 10% and climbed above the $0.0145 level. However, TRX price failed to continue higher and recently corrected more than 5% below $0.0142. The price is now trading below $0.0140 and it might test the $0.0138 support level.
Binance coin (BNB) corrected above the $16.00 level, but it struggled to surpass the $16.20 resistance area. BNB price is now trading below $16.00 and it could test the $15.25 or $15.00 support in the coming sessions. On the upside, the main resistance for the bulls is near the $16.20 level.
Looking at the total cryptocurrency market cap 4-hours chart, there was a minor upside correction from the $200.0B support area. However, the market cap failed to climb above the $220.0B resistance area. There is also a connecting bearish trend line forming with resistance near $220.0B on the same chart. Therefore, a clear break above the $220.0B resistance is needed for a decent upward move. If not, there could be another decline in bitcoin, Ethereum, TRX, LTC, EOS, ripple, ADA, XLM, WTC, BCH, and ICX in the near term.